Founding the Firm Part 1
Scope and Goal¶
My project for 2021 is to start my own financial planning firm. Specifically, the goals for this project will be to:
- [ ] Engage 1 paying client by December 31, 2021.
Milestones¶
- Business plan
- Create a legal entity for the business
- Get all the required licenses necessary to begin operations
- Complete professional development courses
- Develop statements of work, templates, charts, any other materials required for customers
- Marketing Plan
- Rollout!
Timeline¶
| Milestone | Activity | Dep.'s | Start | Stop | Duration (business days) |
|---|---|---|---|---|---|
| Business Plan | 1.1 Create list of services | 1/1/2021 | 1/1/2021 | 1 | |
| 1.2 Write company description | 1/4/2021 | 1/4/2021 | 1 | ||
| 1.3 Write market analysis | 1.2 | 1/5/2021 | 1/8/2021 | 4 | |
| 1.4 Write competitive analysis | 1/11/2021 | 1/15/2021 | 5 | ||
| 1.5 Write marketing plan | 1.3, 1.4 | 1/18/2021 | 1/20/2021 | 3 | |
| 1.6 Write executive summary | 1.2-1.5 | 1/21/2021 | 1/21/2021 | 1 | |
| 1.7 Final proofread and publish to blog | 1/22/2021 | 1/22/2021 | 1 | ||
| Legal entity | 2.1 Decide on a business structure | 1.7 | 1/25/2021 | 1/25/2021 | 1 |
| 2.2 Come up with an official name | 1/26/2021 | 1/26/2021 | 1 | ||
| 2.3 Register with state | 2.2 | 1/27/2021 | 1/27/2021 | 1 | |
| 2.4 Set up a bank account | 2.3 | 1/28/2021 | 1/28/2021 | 1 | |
| 2.5 Business phone #? | 2.4 | 1/29/2021 | 1/29/2021 | 1 | |
| Licensing & Legal Reqs | 3.1 Register and Study for Series 65 | 2/1/2021 | 2/26/2021 | 20 | |
| 3.2 Take Series 65 | 3.1 | 3/1/2021 | 3/2/2021 | 1 | |
| 3.3 Register RIA with state | 3.2 | 3/3/2021 | 3/4/2021 | 2 | |
| 3.4 Errors and Omissions Insurance | 3/5/2021 | 3/5/2021 | 1 | ||
| Professional Development | 4.1 Review and Personalize Curriculum | 3/8/2021 | 3/8/2021 | 1 | |
| 4.2 'Survey of Personal Financial Planning' | 4.1 | 3/9/2021 | 4/9/2021 | 24 | |
| 4.3 'Income Taxes and Personal Financial Planning' | 4.1 | 4/12/2021 | 5/14/2021 | 25 | |
| 4.4 'Investments in Personal Financial Planning' | 4.1 | 5/17/2021 | 6/18/2021 | 25 | |
| 4.5 'Insurance in Personal Financial Planning' | 4.1 | 6/21/2021 | 7/23/2021 | 24 | |
| 4.6 'Estate Planning' | 4.1 | 7/26/2021 | 8/27/2021 | 25 | |
| 4.7 'Employment Benefits and Retirement Planning' | 4.1 | 8/31/2021 | 10/1/2021 | 25 | |
| 4.8 'Personal Financial Planning Capstone' | 4.2-4.7 | 10/4/2021 | 11/5/2021 | 25 | |
| Develop Materials | 5.1 Develop Standard Reports | 4.8 | 11/8/2021 | 11/12/2021 | 5 |
| 5.2 Develop Statement of Work | 5.1 | 11/15/2021 | 11/19/2021 | 5 | |
| 5.3 Develop Standard Presentation | 5.1 | 11/22/2021 | 11/26/2021 | 5 | |
| Marketing Plan | 6.1 Ads | ||||
| Close the Sale | 7.1 Make a sale |
